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A friend wanted to sell his home so I helped post it up for sale. When the house sold he gave me $2000. I am unemployed. How do I file taxes witht that money?

It is not a business he just gave me a commission for showing it to buyers.
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2 Replies

A friend wanted to sell his home so I helped post it up for sale. When the house sold he gave me $2000. I am unemployed. How do I file taxes witht that money?

you performed services for the seller so it is not a gift and is thus taxable income.  Revenue Ruling 58-112 characterizes a trade or business activity as one that is regular, frequent and continuous. therefore, if this is something you don't do regularly report as misc income on schedule 1 line 8z. if done regularly report on schedule C. 

KrisD15
Employee Tax Expert

A friend wanted to sell his home so I helped post it up for sale. When the house sold he gave me $2000. I am unemployed. How do I file taxes witht that money?

He probably did not give you commission if the state regulates sale agents as most states do. 

 

You should ask if that was a gift, in which case you would need to do nothing. Gifts are not reported by the person that received the gift.

 

If the other person deducted the 2,000 as a selling expense,  you would need to claim it. 

How to report the income in that case, would depend in part by the tax form that person gave you, 1099-MISC or  1099-NEC or something else.

 

If it was cash (or check) and no tax form, you could enter it as 

Income

Less Common Income

Miscellaneous Income, 1099-A 1099-C   START 

 

From there you could choose HOBBY INCOME or OTHER REPORTABLE INCOME

 

@amcaroy03131

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